Husky Energy Inc. operates as an international integrated energy company. Segments The company’s business is conducted primarily through two major business segments, Upstream and Downstream. Upstream Upstream includes exploration for, and development and production of, crude oil, bitumen, natural gas and NGL (Exploration and Production) and marketing of the company’s and other producers’ crude oil, natural gas, NGL, sulphur and petroleum coke, pipeline transportation, the blending of crude oil and natural gas, and storage of crude oil, diluent and natural gas (Infrastructure and Marketing). Infrastructure and Marketing markets and distributes products to customers on behalf of Exploration and Production and is grouped in the Upstream business segment based on the nature of its interconnected operations. The company’s Upstream operations are located primarily in Western Canada, offshore East Coast of Canada, offshore China and offshore Indonesia. China Liwan Gas Project The Liwan Gas Project includes the natural gas discoveries at the Liwan 3-1, Liuhua 34-2 and Liuhua 29-1 fields within the Contract Area 29/26 exploration block located in the Pearl River Mouth Basin of the South China Sea, approximately 300 kilometers southeast of the Hong Kong Special Administrative Region. Wenchang The Wenchang field is located in the western Pearl River Mouth Basin, approximately 400 kilometers south of the Hong Kong Special Administrative Region. Husky holds a 40 percent working interest in two oil fields. The Wenchang 13-1 and 13-2 oil fields are producing from 32 wells in 100 meters of water into an Floating Production, Storage and Offloading Vessel stationed between fixed platforms located in each of the two fields. Block 15/33 The company executed a production sharing contract (PSC) in 2015 for an exploration block offshore China. The 15/33 block is located in the Pearl River Mouth Basin in the South China Sea, approximately 140 kilometers southeast of the Hong Kong Special Administrative Region and covers an area of 155 square kilometers in water depths of approximately 80 - 100 meters. The company is the operator of the block during the exploration phase, with a working interest of 100 percent. Taiwan The company has a joint venture agreement with CPC Corporation, Taiwan, for an exploration block in the South China Sea. The exploration block is located 100 kilometers southwest of the island of Taiwan and covers approximately 10,000 square kilometers. Husky holds a 75 percent working interest during exploration, while CPC Corporation has the right to participate in the development program up to a 50 percent interest. Indonesia Madura Strait The company has a 40 percent interest in approximately 622,000 acres (2,516 square kilometers) of the Madura Strait Block, located offshore East Java, south of Madura Island, Indonesia. The company’s two partners are China National Offshore Oil Corporation (CNOOC), which is the operator and has a 40 percent working interest, and Samudra Energy Ltd., which holds the remaining 20 percent interest through its affiliate, SMS Development Ltd. In 2010, the Government of Indonesia approved an extension of the PSC that was originally awarded in 1982. The approval provided a 20-year extension to the contract, which runs until 2032. North Sumbawa II Husky executed a PSC in November 2008 with the Government of Indonesia for the North Sumbawa II contract area. Husky holds a 100 percent interest in the North Sumbawa II Block, which is located in the East Java Basin approximately 300 kilometres east of the Madura Strait block and covers an area of 937,300 acres (3,793 square kilometres). In August 2014, Husky gave notice to the Government of Indonesia of its intention to relinquish the PSC. The Government of Indonesia has not yet issued an approval letter for the relinquishment. Anugerah Husky executed a PSC in February 2014 with the Government of Indonesia for the Anugerah contract area. Husky holds a 100 percent interest in the Anugerah Block, which is located in the East Java Basin approximately 150 kilometers east of the Madura Strait Block and
husky energy inc
(HSE:Toronto Stock Exchange)
707-8th Avenue SW
PO Box 6525
Calgary, AB T2P 3G7
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